2 points 1. Vusi is well informed 2. These entrepreneurs do not research on the markets they aspire to penetrate and do not know the threats to their business ideas.
nelson machete correct Nelson , wrestling to get into certain mkts is hardwork & its assumption mostly , if data was made available to startups R&D would be easier saves you ,I learnt this the hard way
I am glad he knocked down my ideas or potential ideas with reality... Now I have good tips on how to judge my ideas before I put myself out there... Especially, "Make sure the market has a gap and guarantee that the gap also has a market" and "Tell the investor only what he needs to hear to get interested, then once he wants to know the further detail you can then tell him indepth" and "Never use words like 'a few', 'many', almost, 'about', a number', 'maybe' or basically any term that shows that you haven't researched the statistics of your anticipated estimates, but research and be able to say, 'at least one of five' or 'twenty percent' if you want someone to dare invest in your idea" "Always ask your self 'What problem am I solving' when you try to build up your idea'
Quite interesting. But I must add that if all businesses relied on the principle of first knowledge the world would not advance as quickly as it does. Sometimes people don’t know there is a problem to solve until they have an alternative. Before a car was invented people didn’t know they needed one. Once it was invented, soon people couldn’t live without one. People don’t know buy suits based on fabric (this is true). But if there was a suit that had a selling point of wash and wear without crease, people would soon realise they needed it all along because of how much they save on dry cleaning. What am saying is that the easiest business to start is one that address a present problem. A revolutionary business is one that addresses a future problem or one people don’t know that have.
The only thing that changed about a car was the name and what propelled it. There were horse carriage before hence people could relate in that: "Am selling a horse carriage the uses an engine not a horse".
The guy with a fabric idea for a suit has a brilliant idea and the problem exists. Not everyone can afford dry clean regularly and I personally can purchase a suit of that fabric. Not everytime when starting a business you have to solve a problem sometimes you just gotta compete and make money
Yes his idea is good - but the problem he is trying to solve is the reason why Vusi had to bring him down .... if he had taken the route of reducing costs of dry cleaning and others it would have been much better - instead of time .
Straight to the point "what problem are you solving"? I find myself always trying to give a reason why instead of answering 'What' which I see is happening in this session. Let me work on my 'what' and get ready to talk business when I meet you, great work you are doing indeed I'm truly inspired.
Just a rough idea for the guy who was thinking about starting/developing a personal trainer app, well Vusi mentioned one of the cons about the app would be that some personal trainers might give clients their private numbers and as a result the platform might lose money....well that's true, but i was thinking of an idea that would keep those clients coming back like, if you book sessions with the same trainer,you'll get (for example) one free session every after nine sessions!
You are doing the best and I started selling some staff and they bought my staff the same day, but it's the products I make. I am looking to what you doing but not more about what you do, the confident you have that's whats drive my dream up. Next year I will make it for sure
I disagree with Vusi on the guy who talked about ironing and producing a certain clothing material. The guy has a great idea. Go for it guy...it will work.
Hmmm, Great content and priceless information. I think learning from practicing entrepreneurs is way more valuable than information you'll find in any school. Books teach "concepts and theories", Entrepreneurs teach "practicality and expertise".
Yeah but then again you might get be setting yourself up for failure by blindly ignoring other factors. Plus you don't have as much knowledge as the next person. There's always room to learn more. You never learn anything in life if you think you're always right.😉👊
bantu thato I fully agree with your statement but you missed my point. I should think the reason these people went to the workshop was to learn and get more knowledge from others. My statement speaks to making people's business ideas public on RUclips for everyone to hear. Those people don't want opinions from RUclips followers if they did they would have made public announcements on social media and asked for opinions from the public. One of the dangers of publicizing someone's business idea like that is that it can easily be stolen perhaps by someone who has better resources, better capital and so forth.
I think he knows from experience and stats that 90 - 100% of new/amateur entrepreneurs THINK they have an idea and run with it. So they are always going to say rubbish but think it's an idea. An entrepreneur with a foolproof/solid idea can confidently say it because in order to steal it you will have (to have insight) to go and do some research the gap and market. You don't have an idea until you have done the homework; the need, customer and market research.
I think and suggest he does not only consider short-term profit/benefit he targets LONGTERM PROJECT BENEFITING that is why he is asking WHAT PROBLEM ARE U SOLVING
..everybody's trying to be a middle-man via apps or some-such.. no-one's trying to get their feet and hands dirty in this "class".. construction (want to build an app for contractors to meet clients), gym stuff (health-seeker to find a trainer), bank details verifier (to link banks to run-away clients).. ..no-one's got a product to sell here...
The truth is that people are already solving most of the problems, but helping them solve those problems at scale improves their efficiency at solving this problems better. Lack of clients or customers is a very big problem, and lack of information for realiable problem solvers is a big big problem too
Important question one need to ask themselves. 1. What is the problem you are solving. 2. Do you have a market excess. 3. What are the Laws that may work against your business idea or what you want to venture into? 4. Can your business use the "offline drives online" method. 5. It's your business strong enough and needed enough in the market that no other intermediater can disrupt it simple by doing what you are doing? 6. Always try to come up with ideas that make complex problems simple e.g. like the Huawei example he did. 7. Read more about the market that you want to tap into than just assuming that your idea will work.( Read that is the important word)
If I’m selling clothes for instance. I’m not solving a problem per ser I’m proving a basic necessity. It’s not a “pain or problem” it’s a necessity. Spot the difference
i will loosely say, entrepreneurship is taking the risk to invent, design and introduce a new idea in business, whilst business is doing whats already existing or slightly improved but not changed, another mans idea....
Hi Vusi thank you so much for informing please assist i want to know when will you visit cape town for this kind of workshop, i tried to open business but did not make it yet, please assist us by educating us this site.
I gotta love the feedback he gives you as to why he disagrees with people's Ideas...Get the paperwork and the stats of your research correct...Some people just give out a No and an insult but they never really explain as to why they disagree...Is it perhaps too much admin or you just wanna insult and put someone down without there being a sense of logic to it? Conversate!!!
Thank you so much Vuso Thembekwayo. You are rely doing a great job in helping us young Zimbabwean entrepreneurs . Is there a platform where i can send my business idea and also get helped with ideas.
11:52. Pick n Pay is launching a credit facility that can be accessed through your existing Smart Shopper card, which gives you up to 55 days to pay back the money you borrow before the interest (21%) kicks in. The facility is currently in a pilot phase and can only be used in Pick n Pay stores, including the clothing stores, nationwide
He might be a successful entrepreneur/business man/business advisor but he can't tell you what will work and what can't work coz he can't be an expert in every field
12:16 ...that idea can work be a disruptor. You lose nothing by trying...you gain experience. Already you have seen the gap in the market and there is a market in the gap. ..because you are in the industry already.
Super Sad and very frustrating to watch this!!! Seems like entrepreneurship in Africa has boiled down to building apps. Everyone with a business idea has something to do with "apps". While tech startups sound sexy, trendy and cool, the real gem is in the non-tech sector. Education, farming, constructions, health, e.t.c. I personally would like to see a focus on that!!! Case in point. I had a friend who tried to build an Uber app for a West African country (i won't call the name). Of course, it had a hard time succeeding. Why? Because of the lack of basic infrastructure. Uber works in the Western countries because they have the basic infrastructure down. The roads are good, electricity is abundant to keep the computer servers powering those apps up, e.t.c. To me, trying to build apps, without solving the basic infrastructure problems is futile. It's putting the cart before the horse! And I see too many young entrepreneurs falling for that. Someone needs to hit the drums on this (@Vusi - can you take that challenge?). Again, Tech is good...but we need to STOP over-romanticizing it while missing out on other GREAT opportunities elsewhere. Good video, nonetheless. Use this extension to see the slices I added to this video as I watched. ==> www.threelly.com Or get it directly from google chrome store here: chrome.google.com/webstore/detail/threelly-smartview-for-yo/dfohlnjmjiipcppekkbhbabjbnikkibo/
InspiredNation My friend, yes we need to focus on building our infrastructures in Africa e.g roads, electricity and farming, but the downside of that is you need a huge capital and you know how hard to get funding in Africa specially for young people. For the mention reasons young entrepreneurs in Africa start thinking out of the box, by creating apps and solving problems and they’re a lot of success. For your information Lyft found before Uber, and Lyft idea really came from Zambia please read the founder bio.
I would like the opportunity to attend you seminars or your meetings. I already registered the business with my partners and so far a little guidance will take us a long way.
The only time “clothing” would be justified as a problem is when there is a significant shortage of production output in relation to the targeted population. Then we’d have a problem to solve. Example:- What is Trevor Noah selling? Humour right? What “problem” did he set out to solve when he started doing comedy? None. Humour is a social emotional need it’s not a solution to any specific problem.
I think we often hear what people are saying but do not really understand what they are saying. Humour is a social emotional need, you say, right? So the question would be why would you need that social emotional feeling so much so that you would end up going to a comedy show? If you have the answer to that question then you would have the problem Trevor Noah is solving.
Why was I not invited to this? I personally prefer the question "How are you changing the world?" instead of "What problem are you solving?", but, that's just me.
Well-done sir pls, I want to start my own business. I'm a Nigerian and I want to be teaching French online, training staffs etc. The problem I want to solve 1. To help French students speak fluent French 2. To help some Nigeria companies invest in francophone countries. Pls can I go ahead?
"I intent to prove you wrong"..... Thumbs up to this man.
The queen 19
I actually liked his idea
2 points 1. Vusi is well informed 2. These entrepreneurs do not research on the markets they aspire to penetrate and do not know the threats to their business ideas.
nelson machete correct Nelson , wrestling to get into certain mkts is hardwork & its assumption mostly , if data was made available to startups R&D would be easier saves you ,I learnt this the hard way
Agree!
I am glad he knocked down my ideas or potential ideas with reality... Now I have good tips on how to judge my ideas before I put myself out there... Especially,
"Make sure the market has a gap and guarantee that the gap also has a market" and
"Tell the investor only what he needs to hear to get interested, then once he wants to know the further detail you can then tell him indepth" and
"Never use words like 'a few', 'many', almost, 'about', a number', 'maybe' or basically any term that shows that you haven't researched the statistics of your anticipated estimates, but research and be able to say, 'at least one of five' or 'twenty percent' if you want someone to dare invest in your idea"
"Always ask your self 'What problem am I solving' when you try to build up your idea'
Sure
I love Vusi, Arrogantly Humble.
Swears
Quite interesting. But I must add that if all businesses relied on the principle of first knowledge the world would not advance as quickly as it does. Sometimes people don’t know there is a problem to solve until they have an alternative. Before a car was invented people didn’t know they needed one. Once it was invented, soon people couldn’t live without one. People don’t know buy suits based on fabric (this is true). But if there was a suit that had a selling point of wash and wear without crease, people would soon realise they needed it all along because of how much they save on dry cleaning.
What am saying is that the easiest business to start is one that address a present problem. A revolutionary business is one that addresses a future problem or one people don’t know that have.
You really are wise, and that wisdom will take you places
I agree 💯
The only thing that changed about a car was the name and what propelled it. There were horse carriage before hence people could relate in that: "Am selling a horse carriage the uses an engine not a horse".
People now look scared lol. Great platform, great feedback from Vusi. How he responds is exactly how the world responds to new businesses.
Word.
Your discussion with the guy who was running a construction marketplace helped me refine my business.
Thank you Vusi, you showed flaws on my idea, I needed this.
The guy with a fabric idea for a suit has a brilliant idea and the problem exists. Not everyone can afford dry clean regularly and I personally can purchase a suit of that fabric. Not everytime when starting a business you have to solve a problem sometimes you just gotta compete and make money
Yes his idea is good - but the problem he is trying to solve is the reason why Vusi had to bring him down .... if he had taken the route of reducing costs of dry cleaning and others it would have been much better - instead of time .
Damn this guys is as good as advertised!Pure Gold👌
Straight to the point "what problem are you solving"?
I find myself always trying to give a reason why instead of answering 'What' which I see is happening in this session. Let me work on my 'what' and get ready to talk business when I meet you, great work you are doing indeed I'm truly inspired.
its not about the WHAT but the WHY. i would recommend Simon Sinek start with WHY
it is true that entrepreneurship is about knowing what problem you solve UNLESS you in the luxury brand, then the approach is different.
Vusi is a real business guru
the problem isnt the time to go to dry cleaning its the additional cost
Damn I like this man, I wanna listen to him all the time, eish I want him to be my mentor.
You're not alone
This is great, we need more of such entreprenerial converastions based in SA
saw two of this guy's talk a couple years back, nice to get some more knowledge from him...
And it's only 26:16. This is great content, may you please make more of these. It has helped me scrutinize and improve an idea I have.
Me too
The guy (trainer) just very clear and simple
Just a rough idea for the guy who was thinking about starting/developing a personal trainer app, well Vusi mentioned one of the cons about the app would be that some personal trainers might give clients their private numbers and as a result the platform might lose money....well that's true, but i was thinking of an idea that would keep those clients coming back like, if you book sessions with the same trainer,you'll get (for example) one free session every after nine sessions!
To those who say Vusi was brutal, the market is not any kinder.
You are doing the best and I started selling some staff and they bought my staff the same day, but it's the products I make. I am looking to what you doing but not more about what you do, the confident you have that's whats drive my dream up. Next year I will make it for sure
Never let anyone tell you your idea won't work, keep persuing.
Hallelujah tebza
VT i wish you could upload more of what went about during that session,great content as always,straight to the point and very insightful!
black excellence right there... we need more of these
stop the black black thing
I disagree with Vusi on the guy who talked about ironing and producing a certain clothing material. The guy has a great idea. Go for it guy...it will work.
We need one of these in Cape Town, please come down.
I need a brainstorming like you for helping me to let my business grow
Hmmm, Great content and priceless information. I think learning from practicing entrepreneurs is way more valuable than information you'll find in any school. Books teach "concepts and theories", Entrepreneurs teach "practicality and expertise".
I agree but the books also help
That I cannot argue with, I am a life long learner too. I believe that learning never stops. Once you stop learning, you stop growing.
I suggest this good book: The Millionaire Fastlane by MJ DeMarco... every entrepreneur should read it - more than once!
Yep
Hello,im a newly subscribed SOuth African Individual, you keep me driven and having a hardcore ground
Great advice. Nothing beats being your own boss...
I'm not sure I'd want to give my business ideas to the public like this though.
Lol i agree with you so much
Yeah but then again you might get be setting yourself up for failure by blindly ignoring other factors. Plus you don't have as much knowledge as the next person. There's always room to learn more. You never learn anything in life if you think you're always right.😉👊
bantu thato I fully agree with your statement but you missed my point. I should think the reason these people went to the workshop was to learn and get more knowledge from others. My statement speaks to making people's business ideas public on RUclips for everyone to hear. Those people don't want opinions from RUclips followers if they did they would have made public announcements on social media and asked for opinions from the public. One of the dangers of publicizing someone's business idea like that is that it can easily be stolen perhaps by someone who has better resources, better capital and so forth.
I think he knows from experience and stats that 90 - 100% of new/amateur entrepreneurs THINK they have an idea and run with it. So they are always going to say rubbish but think it's an idea. An entrepreneur with a foolproof/solid idea can confidently say it because in order to steal it you will have (to have insight) to go and do some research the gap and market. You don't have an idea until you have done the homework; the need, customer and market research.
@@siyazola8531 true man dts wat these coperations do they hunt for ideas anyway n before yu kno it yu see it on tv...
Very interesting, thank you for this. People doing camera for you FOCUS.
That lady in the beginning is so cute!
Personally,I would have passed this masterclass, probably the only one.After vusi of course.
Wow, I can't believe I was captivated by this. I am laughing at myself... Anywhoo, Vusi what problem are you solving by doing these MasterClasses?
I think and suggest he does not only consider short-term profit/benefit he targets LONGTERM PROJECT BENEFITING that is why he is asking WHAT PROBLEM ARE U SOLVING
Mmm........gap in the market and market in the gap.......quite an insight.......That's my guy Vuci
Main take aways... "what problem are you solving"? & "Offline drives Online"
PnP is currently working on an account concept!!
I love the honesty by vusi
..everybody's trying to be a middle-man via apps or some-such.. no-one's trying to get their feet and hands dirty in this "class".. construction (want to build an app for contractors to meet clients), gym stuff (health-seeker to find a trainer), bank details verifier (to link banks to run-away clients)..
..no-one's got a product to sell here...
Dozer Drives I totally agree.
The truth is that people are already solving most of the problems, but helping them solve those problems at scale improves their efficiency at solving this problems better.
Lack of clients or customers is a very big problem, and lack of information for realiable problem solvers is a big big problem too
Powerful presentation. Thanks so much for the vedio
Jaar this guy knows his story nd other than that he iss a good listner
He is great! Need to find him asap to engage with.
Important question one need to ask themselves.
1. What is the problem you are solving.
2. Do you have a market excess.
3. What are the Laws that may work against your business idea or what you want to venture into?
4. Can your business use the "offline drives online" method.
5. It's your business strong enough and needed enough in the market that no other intermediater can disrupt it simple by doing what you are doing?
6. Always try to come up with ideas that make complex problems simple e.g. like the Huawei example he did.
7. Read more about the market that you want to tap into than just assuming that your idea will work.( Read that is the important word)
Vusi is just amazing
I like how he says one knows they are wrong by saying many and or most people but the says most people don't read their fibric. Great points though !
If I’m selling clothes for instance.
I’m not solving a problem per ser I’m proving a basic necessity.
It’s not a “pain or problem” it’s a necessity. Spot the difference
yes, you doing business, not entrepreneurship.
Andile Grace Dlamini Whats the difference?
i will loosely say, entrepreneurship is taking the risk to invent, design and introduce a new idea in business, whilst business is doing whats already existing or slightly improved but not changed, another mans idea....
Well said Sifiso Kubuli
Hi Vusi thank you so much for informing please assist i want to know when will you visit cape town for this kind of workshop, i tried to open business but did not make it yet, please assist us by educating us this site.
Always love Vusi's take on things. Why was the video flipped? It makes it difficult to follow what he is writing on the board...
Now i understand why some countries have been called developing since i was born...
Great information and session Mr Vusi
VT YOU AN INSPIRATION, MY GUY.
Very informative, inspired!
I gotta love the feedback he gives you as to why he disagrees with people's Ideas...Get the paperwork and the stats of your research correct...Some people just give out a No and an insult but they never really explain as to why they disagree...Is it perhaps too much admin or you just wanna insult and put someone down without there being a sense of logic to it? Conversate!!!
Thank you so much Vuso Thembekwayo.
You are rely doing a great job in helping us young Zimbabwean entrepreneurs .
Is there a platform where i can send my business idea and also get helped with ideas.
vusi you are a legend
Tinotenda Mashavave your right
11:52. Pick n Pay is launching a credit facility that can be accessed through your existing Smart Shopper card, which gives you up to 55 days to pay back the money you borrow before the interest (21%) kicks in.
The facility is currently in a pilot phase and can only be used in Pick n Pay stores, including the clothing stores, nationwide
That is true
great concept...would really like to be part of such
Watching this riveting!!
Retailers like pick n pay,game and Makro now offers credit facility for consumables
I would love to meet him in person and learn more from him.
OMG! Why didn't i know about this class 😭😭😭😭
Bro Vusi I did hear advice about property crowdfunding please share
we would like such lectures at the university of mpumalanga
He is right..why solve a problem which does not exist
Majority think within the same level of understanding... copy and paste then editing
Hi VT for the next event let me solve your sound quality problem :) I have a business in sound hire for such events.
Danm this guy shuts people down😂😂😂
if vusi can be the president of our country (sa), there wont be poverty and crime. like if you agree
Nonsense... Crime?
what this guy is doing is right, why do people have only ideas and not executing?
Powerful message
I wish u cn visit limpopo sir
Uber really changed the game, 85% of app business ideas are being modeled after their business model
Hi Vusi, always enjoy your talks. What are the channels one should explore to take part in these sessions.
He might be a successful entrepreneur/business man/business advisor but he can't tell you what will work and what can't work coz he can't be an expert in every field
Take out the wisdom that works for you. Simple
Please be respectful of people's ideas, thanks
12:16 ...that idea can work be a disruptor. You lose nothing by trying...you gain experience. Already you have seen the gap in the market and there is a market in the gap. ..because you are in the industry already.
Super Sad and very frustrating to watch this!!! Seems like entrepreneurship in Africa has boiled down to building apps. Everyone with a business idea has something to do with "apps". While tech startups sound sexy, trendy and cool, the real gem is in the non-tech sector. Education, farming, constructions, health, e.t.c. I personally would like to see a focus on that!!!
Case in point. I had a friend who tried to build an Uber app for a West African country (i won't call the name). Of course, it had a hard time succeeding. Why? Because of the lack of basic infrastructure. Uber works in the Western countries because they have the basic infrastructure down. The roads are good, electricity is abundant to keep the computer servers powering those apps up, e.t.c. To me, trying to build apps, without solving the basic infrastructure problems is futile. It's putting the cart before the horse! And I see too many young entrepreneurs falling for that. Someone needs to hit the drums on this (@Vusi - can you take that challenge?).
Again, Tech is good...but we need to STOP over-romanticizing it while missing out on other GREAT opportunities elsewhere.
Good video, nonetheless. Use this extension to see the slices I added to this video as I watched. ==> www.threelly.com Or get it directly from google chrome store here: chrome.google.com/webstore/detail/threelly-smartview-for-yo/dfohlnjmjiipcppekkbhbabjbnikkibo/
InspiredNation
My friend, yes we need to focus on building our infrastructures in Africa e.g roads, electricity and farming, but the downside of that is you need a huge capital and you know how hard to get funding in Africa specially for young people. For the mention reasons young entrepreneurs in Africa start thinking out of the box, by creating apps and solving problems and they’re a lot of success. For your information Lyft found before Uber, and Lyft idea really came from Zambia please read the founder bio.
@@KingSolomon88 💁🏾♂️💁🏾♂️🤦🏾♂️
Power
This was probably way before Woolworths strated their food market
camera man never use Lens with thick debt of field tutorial pls get wide angle lens .
Why is it that the majority are going into IT businesses? Just wondering...
The basic businesses tick!
reality check
I would like the opportunity to attend you seminars or your meetings. I already registered the business with my partners and so far a little guidance will take us a long way.
When is the next Masterclass and where i'd love to attend one
Easy to ask?? Difficult to answer it!!
("What problem(s) are you solving")?? 😰😰😢😢
("Who told you; that it was a problem")
Banking Details...
Wow I like this.
The only time “clothing” would be justified as a problem is when there is a significant shortage of production output in relation to the targeted population.
Then we’d have a problem to solve.
Example:- What is Trevor Noah selling? Humour right? What “problem” did he set out to solve when he started doing comedy? None. Humour is a social emotional need it’s not a solution to any specific problem.
I love your mindset👌
I think we often hear what people are saying but do not really understand what they are saying.
Humour is a social emotional need, you say, right? So the question would be why would you need that social emotional feeling so much so that you would end up going to a comedy show? If you have the answer to that question then you would have the problem Trevor Noah is solving.
Trevor is not an entrepreneur. Stay within context
Damn it this guy is smart
Good stuff
Good video but the sound quality is very poor
Hmmm! I so need to be in one of those...
Why was I not invited to this? I personally prefer the question "How are you changing the world?" instead of "What problem are you solving?", but, that's just me.
Sibusiso Sibeko I agree. There are a number of successful businesses that don't necessarily solve a given problem.
Sibusiso Sibeko I like that take...super
K
Hi Sibusiso, we will have another one soon. Don't miss the updates, follow us on our social media pages (If you are not already)
Can we confirm my attendance now already? What do I need to do?
How does one become a part of these talks?
There more you know it is the more you dont know..
I knew there was something that kept me watching classes, you love CARS I dare you contact me . I am in the middle of project .
Well-done sir pls, I want to start my own business. I'm a Nigerian and I want to be teaching French online, training staffs etc. The problem I want to solve 1. To help French students speak fluent French 2. To help some Nigeria companies invest in francophone countries. Pls can I go ahead?